UK-listed Aberdeen Asset Management has acquired German fund manager Degi from Dresdner Bank for EUR 110 mln, the two parties announced last week. Aberdeen said the acquisition will strengthen the position of its property investment division, Aberdeen Property Investors, in the strategically important German market, increasing assets under management by EUR 6.4 bn to approximately EUR 20 bn. For its part, Degi will be able to draw on Aberdeen’s local presence in property markets around the world and capitalise on the growth potential offered to its international business, as part of the enlarged group.
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